D-E pls The-table-below-shows-unemployment-and-labor-force-statistics for an economy.3%Actual rate of unemploymentNatural rate of unemploymentCivilian, noninstitutional population age 16 and overNumber of people employed full timeNumber of people employed part timeNumber of people unemployedNumber of discouraged workers(a) Calculate the size of the labor force. Show yourwork.(b) Calculate the labor force participation rate. Show yourwork.same?4%125 million92 million5 million3 million2 million(c) Given the state of the economy described in the table, is actual real output less than, greater than, orequal to potential real output?Explain.(d) Calculate what the cyclical unemployment rate would be if the actual rate of unemploymentincreased to 5 percent. Show yourwork.(e) Suppose discouraged workers reenter the labor force and find employment. Will the actual rate ofunemployment increase, decrease, or stay the

Given information: The actual unemployment rate is increased to 5% The natural rate of unemployment…

(a) Calculate the size of the labor force. Show your work. (b) Calculate the labor force participation rate. Show your work. c) Given the state of the economy described in the table, is actual real output less than, greate equal to potential real output? xplain._ d) Calculate what the cyclical unemployment rate would be if the actual rate of unemploymen

(a) Calculate the size of the labor force. Show your work. (b) Calculate the labor force participation rate. Show your work. c) Given the state of the economy described in the table, is actual real output less than, greate equal to potential real output? xplain._ d) Calculate what the cyclical unemployment rate would be if the actual rate of unemploymen

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

D-E pls

The-table-below-shows-unemployment-and-labor-force-statistics for an economy.
3%
Actual rate of unemployment
Natural rate of unemployment
Civilian, noninstitutional population age 16 and over
Number of people employed full time
Number of people employed part time
Number of people unemployed
Number of discouraged workers
(a) Calculate the size of the labor force. Show your
work.
(b) Calculate the labor force participation rate. Show your
work.
same?
4%
125 million
92 million
5 million
3 million
2 million
(c) Given the state of the economy described in the table, is actual real output less than, greater than, or
equal to potential real output?
Explain.
(d) Calculate what the cyclical unemployment rate would be if the actual rate of unemployment
increased to 5 percent. Show your
work.
(e) Suppose discouraged workers reenter the labor force and find employment. Will the actual rate of
unemployment increase, decrease, or stay the

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